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Indian auto-components maker of sheet-metal, chassis and polymer parts for two-wheeler and passenger-vehicle OEMs.
Indian auto-components maker of sheet-metal, chassis and polymer parts for two-wheeler and passenger-vehicle OEMs.
Moat: narrow (customer qualification, process know-how). OEM-qualified component supplier in a fragmented, competitive Indian auto-parts industry.
Headquarters: Pune, India · Employees: 2,181
Size Belrise Industries (BELRISE.NS) is an India Consumer Discretionary company (Auto Parts: OEM) with a market value of $2.19B, the 355th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹213.63 on 6 Nov 2026.
Performance Over six months the shares fell 6.3%, against -14.6% for the median peer and 0.0% for the India market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 11.6% over the last twelve months (peer median +9.7%); the operating margin is 8.1% (peer median 5.4%).
Valuation It trades at 31.6× forward earnings against a peer median of 17.3× (4th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 19% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is +6 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.2 points above its cost of capital (9.2% WACC).
Next results Next results expected around 2 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹97.9B | ₹95.1B | ₹82.9B | ₹74.8B | ₹65.8B |
| Revenue growth | — | +15% | +11% | +14% | — |
| Gross profit | ₹11.6B | ₹9.89B | ₹8.59B | ₹7.57B | ₹6.99B |
| EBITDA | ₹11.7B | ₹11.6B | ₹10.3B | ₹9.34B | ₹8.80B |
| Net income | ₹5.07B | ₹4.97B | ₹3.55B | ₹3.14B | ₹3.14B |
| Free cash flow | n/a | ₹261M | -₹4.71B | -₹1.60B | ₹3.05B |
| Capital expenditure | n/a | ₹6.18B | ₹8.68B | ₹4.52B | ₹2.34B |
| Total debt | n/a | ₹15.2B | ₹29.6B | ₹25.0B | ₹23.5B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Belrise Industries BELRISE.NS | $2.19B | -6% | +12% | 8% | 31.6× | 18.6% |
| Sandhar Technologies SANDHAR.NS | $305M | -9% | +27% | 5% | 13.5× | n/a |
| Minda MINDACORP.NS | $1.80B | +33% | +33% | 8% | 37.6× | 32.0% |
| Endurance Technologies ENDURANCE.NS | $3.71B | -1% | +32% | 8% | 32.3× | 29.9% |
| Gabriel India GABRIEL.NS | $2.58B | +22% | +24% | 7% | 47.7× | 55.1% |
| Varroc Engineering VARROC.NS | $1.28B | +40% | +22% | 6% | 31.5× | 29.9% |
| Lumax Auto Technologies LUMAXTECH.NS | $1.68B | +36% | +33% | 10% | 37.2× | 34.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BELRISE.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -13.3% | -6.2% | 5th lowest of 21 |
| 6-month return | -6.3% | -14.6% | 7th highest of 21 |
| Distance from 52-week high | -20.4% | -39.6% | 5th highest of 21 |
| Revenue growth (TTM) | +11.6% | +9.7% | 10th highest of 21 |
| Operating margin | 8.1% | 5.4% | 8th highest of 21 |
| Forward P/E | 31.6× | 17.3× | 4th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 18.6% | 7.6% | 4th most demanding of 16 |
| Growth delivered (Del g) | +13.0% | +9.6% | 6th highest of 16 |
| Hurdle (Req g minus delivered) | +5.6 pp | -2.8 pp | 7th most demanding of 16 |
| ROIC minus cost of capital | +2.2 pp | -0.5 pp | 7th highest of 21 |
| EV / EBITDA | 17.7× | 5.7× | 3rd most expensive of 9 |
| Net debt / EBITDA | 0.6× | 0.7× | 5th least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Belrise Industries BELRISE.NS | India | $2.19B | -6% | +12% | 8% | 31.6× | 18.6% | +13.0% |
| Hesai 2525.HK | Hong Kong | $2.20B | -39% | +39% | 1% | 34.2× | n/a | n/a |
| Dana DAN | United States | $2.17B | -38% | -9% | 4% | 6.1× | 8.8% | +1.1% |
| Keboda Technology 603786.SS | China | $2.20B | -32% | -1% | 10% | 20.4× | n/a | n/a |
| IKD 600933.SS | China | $2.21B | -16% | +26% | 14% | 13.3× | n/a | n/a |
| Autel Intelligent Technology 688208.SS | China | $2.14B | -37% | +14% | 19% | 13.2× | 5.0% | +25.2% |
| Ningbo Jifeng Auto Parts 603997.SS | China | $2.13B | -8% | +21% | 4% | 17.3× | n/a | n/a |
| Chongqing Zongshen Power Machinery 001696.SZ | China | $2.25B | -24% | -5% | 5% | 17.3× | 7.6% | +9.6% |
| SPR Auto Technologies SHRIPISTON.NS | India | $2.10B | +19% | +47% | 14% | 30.5× | 31.3% | +22.9% |
| Toyota Boshoku 3116.T | Japan | $2.28B | -9% | +8% | 2% | 7.7× | -7.3% | +9.9% |
| Huada Automotive Technology 603358.SS | China | $2.28B | +3% | +5% | -3% | 24.7× | n/a | n/a |
| Weifu High-Technology 000581.SZ | China | $2.29B | -11% | +17% | -3% | 10.2× | 16.4% | -1.4% |
| Ningbo Hengshuai 300969.SZ | China | $2.07B | -4% | +16% | 15% | 75.9× | 43.2% | +22.7% |
| Hanon Systems 018880.KS | South Korea | $2.31B | -28% | +5% | 4% | 12.3× | 3.6% | +9.6% |
| Jiangnan Mould & Plastic Technology 000700.SZ | China | $2.05B | +24% | -3% | 5% | 23.6× | 11.9% | +3.1% |
| Sundram Fasteners SUNDRMFAST.NS | India | $2.40B | +24% | +17% | 12% | 31.6× | 28.4% | +11.6% |
| Stanley Electric 6923.T | Japan | $2.41B | +1% | +11% | 7% | 9.9× | 1.3% | +7.6% |
| Ningbo Xusheng 603305.SS | China | $1.98B | -26% | +12% | 7% | 27.5× | 9.2% | +22.1% |
| Forvia FRVIA.PA | France | $1.93B | -20% | -32% | 5% | n/a | -8.3% | +8.1% |
| PHINIA PHIN | United States | $2.48B | -14% | +6% | 9% | 10.1× | 0.4% | +27.5% |
| Visteon VC | United States | $1.87B | -34% | +2% | 5% | 8.0× | 5.3% | +8.1% |